In the short run, if a firm produces nothing, total costs are zero.
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Q16: When economists speak of a firm's costs,
Q17: An example of an explicit cost for
Q18: Economic profit is greater than or equal
Q19: The difference between economic profit and accounting
Q20: Economists and accountants both include forgone income
Q22: The cost of producing an additional unit
Q23: The shape of the total-cost curve is
Q24: A second or third worker may have
Q25: The shape of the total-cost curve is
Q26: If the marginal-cost curve is rising, then
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